{"id":584183,"date":"2023-03-27T00:00:00","date_gmt":"2023-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/this-evening-were-going-to-introduce-easier-visa-rules-for-tourists-svb-just-got-a-lifeline-from-first-citizens-bank\/"},"modified":"2023-03-27T00:00:00","modified_gmt":"2023-03-27T00:00:00","slug":"this-evening-were-going-to-introduce-easier-visa-rules-for-tourists-svb-just-got-a-lifeline-from-first-citizens-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/this-evening-were-going-to-introduce-easier-visa-rules-for-tourists-svb-just-got-a-lifeline-from-first-citizens-bank\/","title":{"rendered":"THIS EVENING: We\u2019re going to introduce easier visa rules for tourists + SVB just got a lifeline from First Citizens Bank"},"content":{"rendered":"

Good afternoon, wonderful people.<\/span> The Ramadan news slowdown is very real, as we\u2019re<\/span> learning on the third work day of the holy month. <\/span><\/p>\n

SO, WHEN DO WE EAT? <\/span>We\u2019ll be breaking our fasts tonight at 6:10pm and Fajr prayers are at <\/span>4:22am tomorrow. <\/span><\/p>\n

*** HAVE YOU CHECKED OUT OUR NEW WEBSITE?<\/span>We launched our brand new website<\/a><\/span>last week \u2014 take a look here<\/a><\/span>. It\u2019s beautiful, loads fast, and packs lots of new features, including deep dives into topic pages, story tags to let you follow the issues and companies that matter most, and an audio feature to listen to \u2014 instead of read \u2014 our issues. If you have a suggestion (or a bug report) hit reply to this email.<\/span><\/p>\n

THE BIG STORY TODAY<\/span><\/p>\n

<\/span>New (and easier) visa rules for tourists coming to Egypt?<\/span> Egypt is rolling out<\/span> several new rules to simplify the visa process for tourists visiting the country, including introducing visas on arrival for Chinese tourists and allowing Indian visitors who already have a residency in a Gulf country or a valid US visa to enter Egypt, Tourism Minister Ahmed Eissa said at a presser earlier today, according to <\/span>Asharq Business<\/a><\/span>. The ministry is also looking at introducing a visa on arrival option for Iranian and Turkish tourists, Eissa said.<\/span><\/p>\n

THE BIG STORY ABROAD<\/span><\/p>\n

<\/span>First Citizens BancShares<\/span> is taking over Silicon Valley Bank\u2019s (SVB) deposits and loans<\/span> for <\/span>USD 500 mn<\/span>in equity appreciation rights <\/span>under an agreement with the Federal Deposit Ins. Corporation (FIDC). Under the agreement, First Citizens Bank will acquire <\/span>assets worth USD 110 bn, USD 56 bn deposits, and USD 72 bn in loans<\/span>. And <\/span>more help could be on the way<\/span> as authorities consider increasing emergency loan facilities following the lender\u2019s <\/span>collapse earlier this month<\/a><\/span> which sent shock waves across global banking. But while things are potentially looking up \u2014 with SVB customers gaining access to their deposits and a number of stocks starting the new week higher \u2014 fears of contagion still hold sway across the board and questions arise over credit crunches, tightened lending, and inflation.<\/span><\/p>\n

The story is dominating the front pages of the international business press this afternoon: <\/span>Reuters<\/a><\/span> | <\/span>New York Times<\/a><\/span> | <\/span>CNN Business<\/a><\/span> | <\/span>Bloomberg<\/a><\/span> | <\/span>CNBC<\/a><\/span><\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n